New scheme articleship
This query is : Resolved
13 March 2024
Sir I have registered articleship under old scheme and completed 11 months of articleship and I have terminated my articleship before 2 months and I am studying for my exams. After clearing my exams what is my articleship period if I register under new principal.
09 July 2024
If you have terminated your articleship after completing 11 months under the old scheme and plan to register under a new principal after clearing your exams, here's how the articleship period will be calculated under the new principal:
1. **11 Months Completed under Old Principal:**
- Since you completed 11 months of articleship under the old scheme, this period will be counted towards the total articleship period required.
2. **Joining New Principal:**
- After clearing your exams, when you join a new principal under the new scheme, your articleship period will restart from where you left off. This means:
- You will need to complete the remaining duration as per the new scheme requirements.
- The remaining duration is typically calculated as per the regulations applicable at the time of your new registration under the new principal.
3. **Calculating Total Articleship Period:**
- The total articleship period required under the new scheme is usually 3 years (36 months) of practical training. This includes the earlier completed 11 months and any additional months required to complete the 3-year period.
4. **Confirmation with New Principal:**
- When you register under a new principal, discuss your previous articleship experience and termination details. The new principal will guide you on how the completed months under the old scheme will be considered and how much more articleship you need to complete under them.
5. **Documentation and Compliance:**
- Ensure all formalities, such as termination of the old articleship and registration with the new principal, are properly documented and submitted to the Institute of Chartered Accountants of India (ICAI) as per their guidelines.
To get precise information regarding your specific case and any recent updates from ICAI regarding articleship rules, it's advisable to consult with your local ICAI branch or check their official website for the latest regulations and guidelines. They can provide clarity on how your previous articleship period will be counted and what you need to complete under the new principal to fulfill the requirements.
1. **11 Months Completed under Old Principal:**
- Since you completed 11 months of articleship under the old scheme, this period will be counted towards the total articleship period required.
2. **Joining New Principal:**
- After clearing your exams, when you join a new principal under the new scheme, your articleship period will restart from where you left off. This means:
- You will need to complete the remaining duration as per the new scheme requirements.
- The remaining duration is typically calculated as per the regulations applicable at the time of your new registration under the new principal.
3. **Calculating Total Articleship Period:**
- The total articleship period required under the new scheme is usually 3 years (36 months) of practical training. This includes the earlier completed 11 months and any additional months required to complete the 3-year period.
4. **Confirmation with New Principal:**
- When you register under a new principal, discuss your previous articleship experience and termination details. The new principal will guide you on how the completed months under the old scheme will be considered and how much more articleship you need to complete under them.
5. **Documentation and Compliance:**
- Ensure all formalities, such as termination of the old articleship and registration with the new principal, are properly documented and submitted to the Institute of Chartered Accountants of India (ICAI) as per their guidelines.
To get precise information regarding your specific case and any recent updates from ICAI regarding articleship rules, it's advisable to consult with your local ICAI branch or check their official website for the latest regulations and guidelines. They can provide clarity on how your previous articleship period will be counted and what you need to complete under the new principal to fulfill the requirements.
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